Heck it held $8-10 with lousy earnings performance for years. Cash flow was ok, but they would buy & write off year after year. Yet their analyst had a $13 target before the crash and it was headed that way.
Now they are lean, focused and they have really good assets, long programming content contracts, and strong management. They should do well given the revival in product advertising, political advertising, autos, World cup, demographic growth, internet, etc.
They should make ever more real money over the next many years.
I'm invested quite heavily in this stock and believe this year is going to a robust one for earnings and comps. . This is certainly a correction, (extremely low volume/weak hands)...I'm long on this stock and look forward to a positive earnings release at the end of the month as well as Q1, 2,and 3.
It may be a good time to sell other media holdings with less upside and buy more EVC. EVC mgmt seemed very confident at the investors conference a couple of months ago. That seems to have been forgotten recently. MGMT has a history of always being honest with us. This seems like a very attractive price to add ahead of earnings. Expectations are low. Seems like a good setup for strong returns.